The European Union Hopes To Double Bailout Fund

Posted By on November 25, 2010

Germany just said “No”  Thought this was a shoe in but……

BERLIN—The European Commission floated a proposal Wednesday to double the size of Europe’s €440 billion bailout fund for indebted euro-zone countries, but the idea was quickly dismissed by Germany, according to people familiar with the situation.

The apparent disagreement between Brussels and Berlin comes amid uncertainty among financial-market participants over whether the funds that Europe has set aside for rescuing stricken euro-zone members would be enough to cope with a possible financial meltdown in Spain.

This is a no brainer, they have no choice! 

The European Commission is pushing to double the size of Europe’s €440 billion ($586.52 billion) bailout fund for indebted euro-zone countries according to people familiar with the situation. But the proposal by the Commission is running into opposition from Germany, the EU’s biggest economy.  

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